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Summer Camp Budget Problem

Using the following information, create a projected budget for a new science summer camp for kids. Fifty kids will participate.

Assumptions: Revenues: We have $60,000 in donations for the camp. We received a $15,000 grant from the CSRA Community Foundation and a $30,000 grant from Georgia Power. Each student will pay a nominal fee of $150 per camper. It will be a day camp for five days, M-F. Friday will be a half day. The Salvation Army is donating space that would have cost us $9,000, so that's an in-kind revenue.

Personnel: We will hire one science faculty and one art faculty to run the camp. The science faculty member makes $75,000 and the art faculty makes $65,000. They will both work on this project at 30% effort. The fringe rate is 34% for full-time faculty. There will be a grad assistant (GA) who will work for 20 hours a week for 15 weeks at $10/hour. During week 16, the GA will work 40 hours. There are no fringe benefits for the GA.

Expenses: Lab coats for each kid at $25/coat. Paint and art supplies for each kid at $100/kid. Science kits at $200/kid and general supplies at $15,000 to cover the miscellaneous supplies. Rent will be $9,000, but it is in-kind. $2000 for travel for the week to two museums, $50 admission to the museums for each kid, and $1,250 for meals.

The indirect cost amount will be 10% of all expenses, PS and NPS. 1. Is the program at a profit or a loss? Should this program run? Why or why not? 2. Could you apply for a $100,000 grant to cover the expenses? How much would you need to apply for?